UltraTech Cement Ltd

₹ 11,355 -1.69%

19 May 3:41 p.m.

ultratechcement.com BSE: 532538 NSE: ULTRACEMCO

About

UltraTech Cement is engaged in the manufacturing and sale of Cement and Cement related product primarily across globe.^[1]

Key Points

Market Leadership
The company is the 3rd largest cement company in the world, excluding China. It is also the largest cement manufacturer in India with a 28% share of the grey cement capacity. ^[1]

Website BSE NSE

Market Cap ₹ 3,34,608 Cr.
Current Price ₹ 11,355
High / Low ₹ 13,110 / 10,325
Stock P/E 44.6
Book Value ₹ 2,534
Dividend Yield 0.67 %
ROCE 12.7 %
ROE 10.4 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 53.9%

Cons

Stock is trading at 4.52 times its book value
Company has a low return on equity of 10.7% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Commodities Construction Materials Cement & Cement Products Cement & Cement Products

Part of BSE Sensex Nifty 50 BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty 500 BSE Dollex 30 Nifty 100 BSE Dollex 100 Nifty Infrastructure Nifty 200 Nifty Commodities Nifty Low Volatility 50 Nifty Shariah 25 Nifty 100 Equal Weight BSE Commodities BSE India Manufacturing Index BSE SENSEX 50 BSE 100 ESG Index (INR) BSE 250 LargeMidCap Index BSE Dividend Stability Index BSE Low Volatility Index Nifty 50 Equal Weight Nifty 100 Low Volatility 30 BSE 100 LargeCap TMC Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty100 ESG Nifty Total Market Nifty Alpha Low-Volatility 30 Nifty50 Shariah Nifty500 Shariah Nifty500 Multicap Infrastructure 50:30:20 Nifty100 Enhanced ESG BSE Select Business Groups BSE 200 Equal Weight BSE Sensex Sixty 65:35 BSE Sensex Sixty BSE Sensex Equal Weight NIFTY Housing Nifty India Select 5 Corporate Groups (MAATR) Nifty500 Equal Weight Nifty Core Housing Nifty Rural Nifty500 LargeMidSmall Equal-Cap Weighted BSE India 150 BSE India Sector Leaders BSE 1000 Nifty Conglomerate 50 Nifty India FPI 150 Nifty India Infrastructure & Logistics

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	18,112	17,225	15,476	16,134	19,806	18,281	15,565	16,914	21,135	19,635	17,864	20,088	24,582
	14,881	14,225	13,025	12,985	15,786	15,323	13,623	14,128	16,525	15,433	15,094	16,579	19,624
Operating Profit	3,231	3,000	2,451	3,149	4,020	2,959	1,942	2,786	4,610	4,202	2,770	3,509	4,958
OPM %	18%	17%	16%	20%	20%	16%	12%	16%	22%	21%	16%	17%	20%
	151	209	158	140	82	94	187	209	115	154	73	1	45
Interest	175	192	211	237	227	291	358	417	400	370	396	433	431
Depreciation	733	720	768	754	786	890	926	933	991	975	1,002	1,024	1,054
Profit before tax	2,475	2,297	1,631	2,298	3,090	1,872	845	1,646	3,335	3,011	1,445	2,053	3,518
Tax %	33%	25%	25%	25%	27%	20%	20%	20%	20%	26%	26%	26%	26%
	1,658	1,714	1,221	1,718	2,252	1,507	680	1,324	2,682	2,232	1,064	1,511	2,599
EPS in Rs	57.42	59.39	42.28	59.51	78.01	52.18	23.54	45.87	91.02	75.74	36.10	51.28	88.19
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	21,911	23,709	23,891	29,358	39,999	40,649	43,188	50,663	61,237	68,641	71,895	82,170
	17,716	19,082	18,922	23,475	32,920	31,997	32,224	39,727	50,952	56,011	59,349	66,730
Operating Profit	4,195	4,627	4,969	5,883	7,079	8,652	10,965	10,936	10,286	12,630	12,546	15,439
OPM %	19%	20%	21%	20%	18%	21%	25%	22%	17%	18%	17%	19%
	372	481	646	373	383	727	625	612	505	580	355	273
Interest	547	512	571	1,191	1,648	1,704	1,259	798	756	867	1,465	1,630
Depreciation	1,133	1,297	1,268	1,764	2,321	2,455	2,434	2,457	2,773	3,027	3,739	4,055
Profit before tax	2,886	3,299	3,776	3,302	3,492	5,220	7,896	8,293	7,262	9,316	7,697	10,027
Tax %	30%	28%	30%	32%	31%	-5%	32%	15%	32%	26%	20%	26%
	2,015	2,370	2,628	2,231	2,412	5,456	5,342	7,067	4,951	6,905	6,193	7,405
EPS in Rs	73.42	86.37	95.72	81.25	87.84	189.02	185.07	244.80	171.52	239.18	210.15	251.30
Dividend Payout %	12%	11%	10%	13%	13%	7%	20%	16%	22%	29%	37%	96%

Compounded Sales Growth
10 Years:	13%
5 Years:	14%
3 Years:	10%
TTM:	14%

Compounded Profit Growth
10 Years:	12%
5 Years:	7%
3 Years:	15%
TTM:	20%

Stock Price CAGR
10 Years:	14%
5 Years:	12%
3 Years:	15%
1 Year:	-3%

Return on Equity
10 Years:	11%
5 Years:	11%
3 Years:	11%
Last Year:	10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	274	274	275	275	275	289	289	289	289	289	295	295
Reserves	18,583	21,357	23,666	25,648	33,023	38,008	43,064	48,982	53,119	58,807	69,383	74,369
	7,414	8,250	6,240	17,420	20,637	18,282	18,314	10,776	9,704	9,011	20,360	20,480
	8,943	8,409	9,100	11,030	15,337	15,239	18,749	20,615	25,303	28,525	31,302	32,698
Total Liabilities	35,215	38,291	39,281	54,373	69,271	71,817	80,416	80,662	88,415	96,631	121,340	127,841
	20,947	22,688	23,232	37,211	46,637	46,775	45,466	45,577	56,562	59,930	75,419	80,031
CWIP	2,074	1,416	878	1,474	1,111	870	1,528	4,627	3,998	6,765	6,002	7,871
Investments	5,209	5,793	7,409	6,163	7,065	10,083	17,570	11,725	9,433	9,237	16,503	17,559
	6,985	8,394	7,762	9,525	14,459	14,089	15,853	18,734	18,421	20,699	23,416	22,380
Total Assets	35,215	38,291	39,281	54,373	69,271	71,817	80,416	80,662	88,415	96,631	121,340	127,841

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,083	4,354	4,723	3,618	6,116	8,259	11,549	8,670	9,757	10,899	9,576	14,398
	-1,879	-3,757	-2,365	1,897	-3,988	-3,951	-8,984	789	-7,122	-7,830	-15,373	-9,815
	-2,267	-582	-2,383	-5,501	-1,769	-4,591	-2,586	-9,501	-2,379	-2,861	5,566	-4,858
Net Cash Flow	-63	15	-25	13	360	-283	-21	-42	257	208	-230	-275
Free Cash Flow	1,515	2,295	4,751	1,782	4,485	6,681	9,825	3,248	3,746	2,021	677	4,971
CFO/OP	101%	112%	110%	76%	96%	106%	117%	93%	106%	99%	86%	102%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	20	22	20	21	21	17	19	20	19	19	22	22
Inventory Days	282	209	202	242	207	204	180	220	247	262	249	181
Days Payable	159	145	155	173	162	162	205	228	266	265	228	189
Cash Conversion Cycle	143	86	66	90	66	59	-5	12	0	16	43	13
Working Capital Days	-62	-95	-49	-60	-37	-37	-78	-38	-59	-54	-59	-39
ROCE %	13%	13%	14%	13%	11%	12%	16%	15%	13%	16%	12%	13%

Insights

In beta

Mar 2015

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Mar 2022

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Mar 2026

Total Installed Capacity
MTPA

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Capacity Utilization
%

Consolidated Sales Volume
Million Tonnes

Lead Distance
km

Clinker Conversion Factor
times

Green Power Mix
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	59.96%	59.96%	59.96%	59.96%	59.98%	59.99%	60.00%	59.23%	59.23%	59.23%	59.28%	59.33%
	15.81%	16.65%	18.20%	17.74%	18.15%	17.95%	16.98%	15.17%	15.23%	15.33%	14.44%	13.61%
	15.95%	15.04%	13.68%	14.14%	13.83%	14.08%	15.15%	16.79%	16.85%	16.65%	17.45%	18.42%
	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%
	8.09%	8.11%	7.95%	7.92%	7.82%	7.75%	7.64%	8.57%	8.48%	8.55%	8.60%	8.41%
	0.14%	0.18%	0.18%	0.17%	0.17%	0.17%	0.19%	0.18%	0.18%	0.20%	0.18%	0.17%
No. of Shareholders	3,49,281	3,47,904	3,42,422	3,57,627	3,53,565	3,56,405	3,59,710	3,94,462	4,06,118	4,09,266	4,12,518	4,09,350

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	62.16%	61.98%	61.69%	60.04%	59.96%	59.96%	59.96%	59.96%	59.23%	59.33%
	21.87%	22.27%	20.00%	16.48%	17.28%	14.03%	14.77%	17.74%	15.17%	13.61%
	5.51%	5.78%	7.79%	14.15%	13.74%	16.39%	16.93%	14.14%	16.79%	18.42%
	0.07%	0.03%	0.04%	0.07%	0.08%	0.05%	0.05%	0.05%	0.05%	0.05%
	10.39%	9.94%	10.41%	9.18%	8.87%	9.48%	8.14%	7.92%	8.57%	8.41%
	0.00%	0.00%	0.07%	0.07%	0.07%	0.09%	0.15%	0.17%	0.18%	0.17%
No. of Shareholders	2,90,577	2,57,871	2,55,205	3,09,688	3,04,256	3,95,972	3,66,437	3,57,627	3,94,462	4,09,350

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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